Loading...
Loading...
- ArcBest Corp ARCB reported fourth-quarter FY22 revenue growth of 5% year-over-year to $1.244 billion, missing the consensus of $1.250 billion.
- Adjusted EPS of $2.45 missed the consensus of $2.53.
- Operating income decreased to $51.2 million, down from $86.9 million a year ago, and the margin declined by 322 bps to 4.1%.
- Sales by segments: Asset-Based $711.44 million (+4.1% Y/Y), and Asset-Light $572.37 million (+5.8% Y/Y).
- Asset-Based total tonnage per day decreased by 5.5%, including a decline of 1.6% in LTL-rated weight per shipment. Total shipments per day increased by 0.8%.
- Total billed revenue per hundredweight increased 9.3% Y/Y, positively impacted by higher fuel surcharges.
- Adjusted EBITDA decreased by 14% Y/Y to $110.66 million, and the margin declined by 197 bps to 8.9%.
- ArcBest held cash and equivalents of $326.03 million.
- Chair and CEO Judy R. McReynolds said, "Despite the challenges in 2022 as a result of ongoing macro trends, the ArcBest team remained focused on serving our customers and advancing our strategic initiatives."
- Price Action: ARCB shares closed higher by 2.64% at $90.15 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in